1. Wells Fargo Chairman, Two Directors to Step Down Amid Continuing Fallout From Sham Accounts Scandal

    Wells Fargo Chairman, Two Directors to Step Down Amid Continuing Fallout From Sham Accounts Scandal

    Stephen Sanger, the chairman of Wells Fargo & Co., will step down from the board of the embattled bank effective Jan. 1 and will be replaced by former Federal Reserve official Elizabeth A. “Betsy” Duke, the bank announced Tuesday. Two other long-serving directors, Cynthia H. Milligan and Susan G. Swenson, also will retire at the end of this year...

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    1. It's like the grift that keeps on grifting — just one scandal after another.
    2. In the end, there still will be pressure to see greater management changes if more wrongdoing is found, since much of the wrongdoing was directly overseen by Wells' management.
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